Naksh Precious Metals Limited (formerly Vaksons Automobiles Limited) has announced its unaudited standalone and consolidated financial results for the quarter ended December 31, 2025. The company, engaged in jewellery trading and manufacturing, demonstrated improved quarterly performance with enhanced profitability.

Financial Performance Overview

The company's financial results show a notable improvement in profitability during the third quarter of FY26. The standalone results indicate positive momentum in the company's core operations.

Consolidated Results

The consolidated financial results, which include the subsidiary NAS Global Industries Private Limited, show similar trends. The consolidated net profit for Q3FY26 stood at ₹7.30 lakhs, while the nine-month consolidated net profit reached ₹16.55 lakhs.

Key Financial Highlights

The company maintains significant cash reserves with cash-in-hand balance of ₹194.61 lakhs as of December 31, 2025, while consolidated cash-in-hand amounts to ₹201.62 lakhs. The company's inventory position stands at ₹7.83 lakhs, reflecting its jewellery trading and manufacturing operations.

Share Capital and Earnings Per Share

The company's paid-up equity share capital remains stable at ₹1,052.05 lakhs with a face value of ₹10 per share. The basic earnings per share for Q3FY26 was ₹0.07, showing improvement from the previous quarter's ₹0.06.

Auditor's Review and Emphasis Matters

DGMS & Co., Chartered Accountants, conducted the limited review of the financial results under Standard on Review Engagement (SRE) 2410. The auditors highlighted several emphasis matters including reliance on management representations for inventory verification of ₹7.83 lakhs and cash balance confirmation of ₹194.61 lakhs due to the nature of the limited review engagement. The auditors also noted outstanding advances to related parties for which the management has represented as recoverable, though ultimate recoverability depends on future events and outcomes.

Precious metals markets have witnessed extraordinary performance, with platinum emerging as the surprise outperformer while gold and silver continue their strong rallies to record levels. The dramatic price movements across these traditional safe-haven assets have prompted investors to question whether opportunities still exist or if the rally has run its course.

Commodity experts suggest that the focus should shift from what to buy to how to allocate investments strategically. According to Kunal Shah, Head of Commodity Research at Nirmal Bang Securities, the outlook for precious metals remains constructive, but disciplined investment approaches are essential. Shah expressed greater optimism for gold compared to silver, while cautioning against fresh allocations at current elevated levels.

Silver Reaches Record Heights Amid Industrial Demand

Silver has delivered remarkable performance, surging to a record high of ₹2,18,000 per kg. Satish Dondapati, Fund Manager at Kotak Mutual Fund, attributes this surge to strong industrial demand combined with rising investment interest.

Silver's dual role as both a safe-haven asset and critical industrial metal continues to underpin demand across multiple sectors. However, Dondapati cautioned investors against large lump-sum allocations following the sharp appreciation. He recommends systematic investment plans (SIP) or systematic transfer plans (STP) to manage timing risk and navigate potential market swings.

Gold Maintains Strength Near Record Levels

Gold prices have remained firm near record highs, supported by multiple fundamental factors. The precious metal continues to benefit from global uncertainty, ongoing geopolitical tensions, and market expectations of easier monetary policy ahead.

Dondapati emphasized that gold retains its traditional role as a safe-haven asset and hedge against inflation and currency volatility. The metal's appeal is further reinforced by central bank buying activities and steady investor demand. However, he warned that improvements in geopolitical situations, US dollar strength, or delays in expected rate cuts could trigger short-term consolidation.

Strategic Investment Recommendations

Analysts are unanimous in recommending cautious, systematic approaches to precious metals investing at current levels. Shah specifically highlighted gold ETFs as the optimal vehicle for gaining exposure to gold, while suggesting that investors wait for price corrections before establishing fresh long positions in silver.

The investment approach centers on systematic strategies such as SIP and STP methods, which help average costs and build exposure in a disciplined manner. This methodology is particularly relevant given the potential for near-term volatility and consolidation across precious metals markets.

Market Outlook and Risk Factors

While the structural outlook for precious metals remains positive, several risk factors could influence short-term performance. Potential improvements in geopolitical tensions, unexpected US dollar strength, or changes in monetary policy expectations could create headwinds for precious metals prices.

The consensus among analysts suggests that precious metals should remain core portfolio components, but timing and allocation strategies require careful consideration. The extraordinary performance witnessed, particularly platinum's emergence as a market leader, has reshaped traditional precious metals dynamics and investor expectations.

Analysts recommend staggered buying strategies over lump-sum investments at current elevated levels, emphasizing the importance of disciplined and systematic approaches to precious metals investing in the current market environment.